News

AmStar Systems targets unbanked population

September 27, 2005

WEST CHESTER, Penn. - MEI announced in a news release that its cash acceptor has been integrated into AmStar Systems' eca$hier financial services kiosk. The ATM-style kiosk is being deployed in convenience stores and other retail outlets throughout Colorado, Washington, D.C., Tennessee, and other states in the fourth quarter of 2005.

The AmStar eca$hier financial services kiosk is designed for the unbanked market, which, according to a recent U.S. Treasury Department study, is approximately 43 percent of the U.S. population and represents nearly 75 million people with buying power of over $650 billion a year. Most eca$hier users are not part of any banking system. The kiosk allows customers to purchase prepaid debit cards, reload debit cards, transfer money to Mexico, order money orders and receive cash. The eca$hier unit is equipped with a card reader and MEI cash acceptor, providing eca$hier purchasers with 100% market usage of the equipment.

According to AmStar president Bob Farris, "The MEI cash acceptor adds an additional 40 percent market penetration to the eca$hier. This is a big advantage to the purchaser of an eca$hier. Plus, unlike traditional ATMs that provide revenues from surcharge and interchange fees, the eca$hier earns purchasers traditional ATM revenues plus fees from providing a multitude of extra products and services."